McDonald's Corporation (MCD): operating margin, 10 filed years
Operating margin at McDonald's Corporation was 46.1% in FY2025, the newest filed year. Across the 10 computed years from FY2016 it ranged from 31.4% (FY2016) to 46.1% (FY2025), with a median of 42.2%.
Tonight's figure on the company page: 46.1%, recomputed 2026-10-15. The table is each filed year on its own terms, with the formula below; the current figure may use trailing twelve months or, where the explainer says so, a different denominator.
Year by year
| Fiscal year | Operating margin | Read from |
|---|---|---|
| FY2016 | 31.4% | 10-K, filed 2017-03-01 |
| FY2017 | 41.9% | 10-K, filed 2018-02-23 |
| FY2018 | 41.5% | 10-K, filed 2019-02-22 |
| FY2019 | 42.5% | 10-K, filed 2020-02-26 |
| FY2020 | 38.1% | 10-K, filed 2021-02-23 |
| FY2021 | 44.6% | 10-K, filed 2022-02-24 |
| FY2022 | 40.4% | 10-K, filed 2023-02-24 |
| FY2023 | 45.7% | 10-K, filed 2024-02-22 |
| FY2024 | 45.2% | 10-K, filed 2025-02-25 |
| FY2025 | 46.1% | 10-K, filed 2026-02-24 |
How each year is computed
Operating income / revenue x 100
Each year is a ratio of lines in that year's filed annual report, with the nightly recompute's own rules for what counts as a filed line. Nothing is estimated, smoothed or filled in: a year that cannot be computed says why.
Read further
A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.